Los Angeles Capital Management & Equity Research Inc. lowered its holdings in shares of Aramark (NYSE:ARMK) by 27.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,848 shares of the company’s stock after selling 85,562 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.09% of Aramark worth $9,131,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Aramark by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 19,876,655 shares of the company’s stock worth $814,546,000 after acquiring an additional 507,262 shares during the period. FMR LLC grew its position in Aramark by 3.3% in the 2nd quarter. FMR LLC now owns 13,215,194 shares of the company’s stock worth $541,558,000 after purchasing an additional 421,291 shares during the last quarter. BlackRock Inc. grew its position in Aramark by 1.4% in the 2nd quarter. BlackRock Inc. now owns 12,627,800 shares of the company’s stock worth $517,486,000 after purchasing an additional 174,494 shares during the last quarter. Atlanta Capital Management Co. L L C grew its position in Aramark by 25.2% in the 2nd quarter. Atlanta Capital Management Co. L L C now owns 9,931,393 shares of the company’s stock worth $406,989,000 after purchasing an additional 1,997,607 shares during the last quarter. Finally, State Street Corp grew its position in Aramark by 5.3% in the 2nd quarter. State Street Corp now owns 4,684,792 shares of the company’s stock worth $191,980,000 after purchasing an additional 237,320 shares during the last quarter. Institutional investors and hedge funds own 95.68% of the company’s stock.
In other news, Director Sanjeev K. Mehra bought 19,640 shares of the stock in a transaction on Thursday, November 16th. The stock was purchased at an average price of $40.75 per share, with a total value of $800,330.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.90% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on ARMK. BidaskClub upgraded shares of Aramark from a “hold” rating to a “buy” rating in a research report on Wednesday, October 18th. Barclays reiterated a “hold” rating and set a $45.00 target price on shares of Aramark in a research report on Thursday, October 19th. Zacks Investment Research lowered shares of Aramark from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 18th. Nomura lifted their target price on shares of Aramark from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada lifted their target price on shares of Aramark from $44.00 to $47.00 and gave the company an “outperform” rating in a research report on Tuesday, October 17th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $44.83.
Shares of Aramark (NYSE:ARMK) traded down $0.31 during midday trading on Monday, hitting $42.76. 1,277,011 shares of the company’s stock were exchanged, compared to its average volume of 1,382,141. Aramark has a one year low of $32.87 and a one year high of $44.12. The company has a market capitalization of $10,553.82, a P/E ratio of 24.33, a PEG ratio of 1.83 and a beta of 0.47. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.86 and a current ratio of 1.12.
Aramark (NYSE:ARMK) last announced its earnings results on Tuesday, November 14th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.02. Aramark had a net margin of 2.56% and a return on equity of 19.29%. The company had revenue of $3.65 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. research analysts expect that Aramark will post 1.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Monday, November 27th will be paid a $0.105 dividend. This represents a $0.42 annualized dividend and a yield of 0.98%. The ex-dividend date is Friday, November 24th. This is an increase from Aramark’s previous quarterly dividend of $0.10. Aramark’s dividend payout ratio is presently 28.19%.
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Aramark is a global provider of food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International), and Uniform and Career Apparel (Uniform).
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